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Innovative Rfk SpA (MLIRF) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Innovative Rfk SpA €1.21, price €1.80, upside -32.8%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Financial Services · FR · Home Italy · ISIN IT0005391161

IR Thin data Sep 23, 2026

Innovative Rfk SpA

MLIRF · PA

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value €1.21 · Overvalued (−33%)
!Quality 61/100
!Expensive Growth (revenue 5y +23.9 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (5/9)
!Narrow moat 37/100
!Insider activity 30/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€2.06 €0.9300 Fair Value €1.21 Jan 2020 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €0.9300 – €2.06 · fair‑value band €0.9100 – €1.51 · the €1.80 price screens above the €1.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Innovative-RFK S.p.A. is a private equity and venture capital firm specializing in startup, emerging growth, and growth capital investments in Small and Medium sized companies. The firm also makes fund of fund investments in private equity funds.

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Innovative-RFK S.p.A. is a private equity and venture capital firm specializing in startup, emerging growth, and growth capital investments in Small and Medium sized companies. The firm also makes fund of fund investments in private equity funds. It prefers to invest in the biomedical systems, microcredit for SMEs, information technology, high tech sector, and innovative solutions for different industries. It typically invests in companies based in Italy. It invests up to "3 million ($3.54 million) in companies with enterprise value up to "50 million ($58.96 million), sales value up to "50 million ($58.96 million) and EBITDA up to "5 million ($5.90 million). The firm invests through its personal capital. The firms can hold either minority or majority stake in its portfolio. The firm prefers to exit its investments within 18-24 months through IPO. Innovative-RFK S.p.A. was founded in 2017 and it is based in Milan, Italy.

Stock analysis

Innovative Rfk SpA (MLIRF) currently trades at €1.80, while our model-based Fair Value estimate is €1.21, implying the stock looks roughly 48.8% overvalued today.

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Valuation

How firm this estimate is: it rests on 10 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: €0.9100 (bear) to €1.51 (bull), the price of €1.80 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 61/100 (solid quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Innovative Rfk SpA reported revenue of €388K in FY2025 versus €50.5K in FY2021, a compound +66.5%/yr. Reported net income was €1.4M in FY2025.

Key figures

Market cap €16.4M · P/E ratio 12.0 · P/S ratio 43.1 · EPS (TTM) €0.1500 · Net margin 359% · Return on equity 10.6% · Return on assets (EBIT) −1.3% · Operating margin −15,323%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at −33%, MLIRF screens richer than that median.

Fair Value models

Bear €0.9100 Fair Value €1.21 Bull €1.51
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.1105 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
P/B Multiple €0.9100 €1.21 €1.51 55
NCAV (Graham) €0.7100 €0.9500 €1.42 54
All 2 models by family
Multiples
P/B Multiple €0.9100 €1.21 €1.51 55
Asset-Based
NCAV (Graham) €0.7100 €0.9500 €1.42 54

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Quality Score breakdown

Overall quality 61/100

Of which business quality 57 · Market factors (momentum, volatility) 51

Profitability 43
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+52.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+48.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.9%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+62.5%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+0.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.5%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−187% → −172%

MLIRF screens 49% overvalued. Compare with Blackstone Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 656 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 60 · Above median
Fair Value upside −33% · Bottom 25%
Profitability
Return on equity (TTM) 11% · Above median
Return on assets −2% · Bottom 25%
Growth and dividend
Revenue growth 37% · Top 25%
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 12.0× · Cheaper than median
P/B 1.44× · Pricier than median
P/S (TTM) 47.98× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 56
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)42 · sector 22
HEALTH (low debt)98 · sector 95
DIVIDEND (yield)0 · sector 81

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $117.21 $52.29 −55%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $97.21 $29.25 −70%
Apollo Global Management, Inc APO $124.36 $229.64 +85%
State Street Corporation STT $179.95 $138.33 −23%
Ameriprise Financial, Inc AMP $502.79 $579.51 +15%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $158.23 $312.27 +97%
T. Rowe Price Group TROW $104.57 $209.14 +100%

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Cite: Fair Value Calculator (2026). "Innovative Rfk SpA Fair Value". https://www.fairvalue-calculator.com/stock/MLIRF

Frequently asked questions

Is Innovative Rfk SpA (MLIRF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.21 versus a price of €1.80, about −33% upside (overvalued).
What is the fair value of MLIRF?
Our model-based fair value for Innovative Rfk SpA is €1.21 (as of Sep 23, 2026), built from audited fundamentals. The current price: €1.80.
What is the quality score of MLIRF?
Innovative Rfk SpA has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Innovative Rfk SpA (MLIRF)?
Our model-based price target is the fair value of €1.21 (as of Sep 23, 2026) from 2 valuation models. Cautious scenario €0.9100, optimistic scenario €1.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Innovative Rfk SpA stock forecast for 2026?
Our models put fair value at €1.21, about −33% upside versus a price of €1.80 (overvalued). Cautious scenario €0.9100, optimistic scenario €1.51. The calculation is refreshed regularly with new filings.
What is the revenue of Innovative Rfk SpA (MLIRF)?
Innovative Rfk SpA reported trailing-twelve-month revenue of about €388K (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Innovative Rfk SpA (MLIRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Innovative Rfk SpA it is €1.21 per share (as of Sep 23, 2026), against a price of €1.80. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Innovative Rfk SpA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MLIRF trades above its calculated fair value: price €1.80, fair value €1.21, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MLIRF?
No. The price is what the market pays today (€1.80); the fair value is what the company's own numbers justify (€1.21). For Innovative Rfk SpA the two are €0.5900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Innovative Rfk SpA worth?
The market values Innovative Rfk SpA at about €16.4M (market capitalisation, as of Sep 23, 2026). Per share that is €1.80; our models calculate a fair value of €1.21 per share.
What do the bullish and bearish scenarios say about MLIRF?
Our models span a range for Innovative Rfk SpA: cautious scenario €0.9100, base €1.21, optimistic €1.51 per share (as of Sep 23, 2026, price €1.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MLIRF?
Innovative Rfk SpA trades at a price-to-earnings ratio of 12.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €1.21 is built from several models across several years. Other multiples: P/B 1.4, P/S 48.0.
How solid is the balance sheet of Innovative Rfk SpA (MLIRF)?
Balance-sheet figures for Innovative Rfk SpA (as of Sep 23, 2026): return on equity 10.6%, debt of 0.04 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is MLIRF from its 52-week high?
Innovative Rfk SpA trades at €1.80, about 6% below its 52-week high of €1.92 and 13% above the low of €1.60 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.21 is for.
Which stocks are comparable to Innovative Rfk SpA?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Innovative Rfk SpA stock attractive at the current price?
The data as of Sep 23, 2026: price €1.80, calculated fair value €1.21 (−33%), Quality Score 61/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MLIRF calculated?
We run Innovative Rfk SpA through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €1.21, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Innovative Rfk SpA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Innovative Rfk SpA (MLIRF)?
The closing price on Sep 24, 2026 was €1.80. Our model-based fair value is €1.21, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Innovative Rfk SpA right now?
The price sits above even our optimistic bull case (€1.51). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Innovative Rfk SpA

How large is the market capitalisation of Innovative Rfk SpA (MLIRF)?
The market capitalisation of Innovative Rfk SpA is €16.4M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Innovative Rfk SpA (MLIRF)?
The price-to-sales ratio of Innovative Rfk SpA is 43.1 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Innovative Rfk SpA (MLIRF)?
Earnings per share at Innovative Rfk SpA are €0.1500 (price ÷ EPS = P/E 12.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Innovative Rfk SpA (MLIRF)?
The net margin of Innovative Rfk SpA is 359% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Innovative Rfk SpA (MLIRF)?
The return on equity (ROE) of Innovative Rfk SpA is 10.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Innovative Rfk SpA (MLIRF)?
On an EBIT basis the return on assets of Innovative Rfk SpA is −1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Innovative Rfk SpA (MLIRF)?
The operating margin of Innovative Rfk SpA is −15,323% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Innovative Rfk SpA (MLIRF)?
Revenue at Innovative Rfk SpA is growing +36.6% versus a year earlier (3y avg +48.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Innovative Rfk SpA (MLIRF) generate?
The free cash flow of Innovative Rfk SpA is −€657K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Innovative Rfk SpA (MLIRF) carry?
The net debt of Innovative Rfk SpA is €190K (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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